The Pomp Podcast #1295 Raoul Pal on Bitcoin, Ethereum, Solana & Macro Environment
45 snips
Jan 16, 2024 
Raoul Pal, Co-Founder & CEO of Real Vision and writer of 'Global Macro Investor' discusses the Bitcoin ETF, Ethereum, Solana, macro environment, and his 'Everything Code' thesis. He explores the behavior of capital in Bitcoin ETFs, the debate between Ethereum, Solana, and other emerging challengers, and the tokenization of assets and institutional involvement in the crypto space.
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Bitcoin ETF Investor Behavior
- New Bitcoin ETF investors are unsure how they will react to future price volatility.
- Some investors may panic sell during drawdowns, while others, like millennials investing in 401ks, are more likely to hold long-term.
Bitcoin Volatility and ETFs
- Bitcoin's volatility is expected to decrease due to the ETF and an influx of passive, long-term investors.
- This stability, driven by regular investments like 401Ks, changes the dynamics of the Bitcoin market.
ETFs and Bitcoin Financialization
- Bitcoin ETFs will introduce leverage products like options, increasing market volatility and attracting new players.
- This financialization may lead to accelerated price movements due to hedging and increased speculation.